Chinese electric vehicle maker Xpeng Inc would consider acquiring less successful rivals to expand production capacity in the future.
DETROIT: Chinese electric vehicle maker Xpeng Inc would consider acquiring less successful rivals to expand production capacity in the future, company President Brian Gu told reporters during a conference call.
Xpeng is building two new factories in China. At the same time, the Chinese government is signaling it wants to see consolidation in the Chinese electric vehicle sector to rein in construction of unproductive factories.
"If we need additional capacity in a year or two...we may think about using M&A as a tool to get more capacity," Gu said.
Guangzhou-based Xpeng also said that its new P5 compact sedan model will be priced between 157,900 yuan ($24,549) and 223,900 yuan after receiving government subsidies. It is now selling P7 sedans and G3i sport-utility vehicles. ($1 = 6.4320 Chinese yuan renminbi)
Also Read:
How to buy the right electric car for yourself
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DETROIT: Chinese electric vehicle maker Xpeng Inc would consider acquiring less successful rivals to expand production capacity in the future, company President Brian Gu told reporters during a conference call.
Xpeng is building two new factories in China. At the same time, the Chinese government is signaling it wants to see consolidation in the Chinese electric vehicle sector to rein in construction of unproductive factories.
"If we need additional capacity in a year or two...we may think about using M&A as a tool to get more capacity," Gu said.
Guangzhou-based Xpeng also said that its new P5 compact sedan model will be priced between 157,900 yuan ($24,549) and 223,900 yuan after receiving government subsidies. It is now selling P7 sedans and G3i sport-utility vehicles. ($1 = 6.4320 Chinese yuan renminbi)
Also Read:
How to buy the right electric car for yourself
Amidst rising fuel prices and growing concerns over global warming, electric vehicles have been promoted as an answer to many problems. If you are planning to buy one, here's something that you need to know.
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